Always be on guard when running your business

[Republikcoin.com]

That is a very sensitive point and that's also a very big mistake that business owners do. Sometimes, this running down of business use to come from relatives even. I have seen situations where people drain their brother or sister business only to start their own.
Should one say it happens out of over trust? For me, it should not be a matter of trust! Your business is an artificial person that needs all the care and protection you offer to yourself, not doing that might lead to you losing your venture.

What you describe may only happen to a small number of people, as I've seen something like that with one person, but not everyone is like that. Being too indifferent to a business they've established just because a sibling is looking after it is a major mistake for a business owner. No matter how sibling ties are, the business itself won't significantly impact its maintenance and growth. Moreover, if the sibling also intends to build their own business separate from ours, they will automatically strive to achieve their own goals without regard for ours. So this gives the meaning that the brother is at home, not at the business place, because the person who is looking for money will not know the brother or the like.

[Faisal2202]

The mistake that my parents did was trusting the hired manager too much, always be on your guide when running business and paying people salaries, people are like termites, what you paid them might never be enough for them, they will start planning to drain down your business and if you are too relaxed it won't show until it's too late.

Sometimes we can't control everything except we don't give much jurisdiction (control) to one person so he/she won't feel like above everything (like law even) and try to take things in their hands and do it in anyway they find it possible regardless of moral check.

If someone is running a business they must hire someone who is trust worthy but money is something that can change 90% of the people even after 50 years of their service, but the best way to keep things in place is to divide the role of a manager and hire a person for record and another for cash and also oversight them silently.

[Asuspawer09]

This was a normal problem for a lot of businesses most of the times there are just some employees that is taking advantage of the business since they are just in control of the system of it they could easily steal a small amount of funds on the company without even known by the owner of by the employees, It is straight up stealing they know what they are doing so it's not easy to spot this theifs. I came from 2 companies that have this kind of employees, in my first company, the manager who was just trusted enough by the owner of the company, so he just trusted him with everything, but we can see that there are some funds missing, and there were only a select few people that have access to it so it get pretty obvious to us.

That is why it is important to know your business, how important each department in a company is, like audits, HR, systems, IT, etc., all of them have different works that are beneficial to companies, and if you want to keep your company running smoothly, you want to manage or at least have trusted people in these departments. Probably just don't be careless, and make sure that you understand how your business how it works, etc.

[Z_MBFM]

We can't put 100% trust in others, and even our own families. In business, there's money involved, and we know that money is a very sensitive aspect of life. There's a saying that goes, "Money is the cruelest breaker of ties," and yes, it's true. It's not once or twice that I've heard of friendships falling apart just because of money, and even family ties can be severed.
What you experienced is a valuable lesson. It can be a lesson for everyone that in running a business, we shouldn't completely trust others.

Business is such a thing where if you sacrifice someone in a sector, then something can happen for that sacrifice. When a person works for a business, if he makes any mistake, then not only the salary given to him is the cause of loss for him, but also different aspects of the company are affected according to his position. So in business, no one should be given any kind of concession. Relationship is a very big thing, but it is better not to have that relationship in business. Business is business, if your own family members are involved there, then they are just employees at that time. There should be no kind of personal relationship in business.

[beerlover]

On the one hand money can change people from being loyal to betraying us. But if we maintain discipline and consistently monitor it, things will work out well. After all in business for long-term growth and further growth we must have people we trust.

In business handling it alone and not trusting anyone is also not good. If you want a long-term business, you must have people you trust. Whether you realize it or not business can't grow without trust. So you must have a mindset find employees you can trust with clear boundaries. An employee who abuses? You can simply fire them. Because in business if you want to go far you can't do it alone. Build a team, delegate, and use trust as fuel to help us progress faster.

My uncle always said, money doesn't change people, it just shows who they truly are. So if you think that someone was loyal to you, but with money they changed, they weren't loyal to you, it just looked that way. If someone was nice to you, but after getting rich they were bad, they were always bad, they were only looking nice but really wasn't. Same goes for business, you will see difference in dealings when you are the one who is going to get paid versus you are the one who pays someone.

When you are the one getting paid, everyone tries to pay very little and very late as much as possible, but when you are paying? They want to do as little of a job as possible and get paid as quickly as possible and get paid a lot.

[silpersurfer]

Capital never lasts long without knowledge, supervision, and management. There are so many cases to prove that trust given without control is an avenue not only to mistakes and abuse but even to the destruction of the business itself.

But it is so ironic to see a lot of people who have the ability, integrity, and proper business understanding, yet they find themselves sitting idle because of just two reasons- limited capital and family background. On the other hand, there are also a lot of people who have big capital even with full parental support but do not possess the skills to manage it properly. This is very sad because most of the time great potential does not meet right resources.

The case of Coinbase should be an eye-opener that business risks are not only external but internal as well. In the absence of knowledge, vigilance, and a robust system, be it an individual or a large corporation, anybody can fall victim to the same fate.

[Botnake]

The mistake that my parents did was trusting the hired manager too much, always be on your guide when running business and paying people salaries, people are like termites, what you paid them might never be enough for them, they will start planning to drain down your business and if you are too relaxed it won't show until it's too late.

Sometimes we can't control everything except we don't give much jurisdiction (control) to one person so he/she won't feel like above everything (like law even) and try to take things in their hands and do it in anyway they find it possible regardless of moral check.

If someone is running a business they must hire someone who is trust worthy but money is something that can change 90% of the people even after 50 years of their service, but the best way to keep things in place is to divide the role of a manager and hire a person for record and another for cash and also oversight them silently.

If you really have bad intention to your job, no matter how long you are trying to hide it, the time will definitely come that you'll put everything in action. And that's the time when everything is perfect, having gained all the genuine trust an employer can offer.

That is why building trust is definitely the biggest challenge. But you have no choice but to give your trust to whom you think a trusted one, in order your business will operate continuously without you personally on the site. Trust but with caution.

[DaNNy001]

when it comes to making money and running a business it is foolishness to leave it in the hands of anyone but yourself...if you want to get something done it is important to do it yourself instead of relying on others because no one can actually do the tasks like you...if you are not smart about what you have going on and guarding your business you might fall off within a short period of time

[Alone055]

when it comes to making money and running a business it is foolishness to leave it in the hands of anyone but yourself...if you want to get something done it is important to do it yourself instead of relying on others because no one can actually do the tasks like you...if you are not smart about what you have going on and guarding your business you might fall off within a short period of time

No one leaves their businesses in the hands of others, but you can't run a business just by yourself, and you need to have other people with you, there has to be people managing and running the business for you, especially if you have multiple businesses, and possibly you have to travel a lot because of your businesses in different cities and countries. So, if that's the case, you can't be available at all times to manage the business yourself and don't rely on others. That's why people have to rely on others, but it's important that they find people whom they can trust.

This is actually one of the most challenging things when running a business, because you don't easily find or get people whom you can trust, especially at the managerial level, who you can trust that they will manage everything properly when you are not around, and that they won't keep eating your money and ruining your business in your absence. Someone who manages to find such people should consider themselves lucky because they are pretty rare, especially nowadays when the world revolves around money.

[junder]

The problem with that, since that there's a relationship between you won't be able to treat them the way it should when something mess happen to your business, you'll be afraid to confront them about it, that's most of the time, better to hire someone who you'll pay the right amount and who you'll be able to guide and guard to see if they are doing the right thing.

It's better to be on-hand when you are in a business establishing your company can be tough but doable if you have the right crew to help you and have the same vision from how you percept the full potential of your success.

Good advice, if indeed we ourselves can still handle it and only need the help of other personnel then recruiting other people is the right choice but there is no other intention so just hire them as employees. Because that's how we hire them and pay them, guide them and monitor them.

But over time maybe there will be trust in the person we give the job from there we can assess how the person is performing and their behavior. Yes, even if we are sure that giving trust is natural.

[JoyceBTC]

when it comes to making money and running a business it is foolishness to leave it in the hands of anyone but yourself...if you want to get something done it is important to do it yourself instead of relying on others because no one can actually do the tasks like you...if you are not smart about what you have going on and guarding your business you might fall off within a short period of time

Hope you know some businesses cannot be run by you alone, so you actually will need helping hands that’s why business owners have employees that will help them manage their business.
What we are saying here is that no matter the people helping you run or manage your business, you should not completely trust them with it, or feel there is no need for you as the business owner to watch or oversee how things are been done there because people are managing it for you.
You should always be on guard and know how things works there, get all the information you can and make sure things are running as it should to avoid been ripped of your money by any employee.

[Uhwuchukwu53]

A very wealthy CEO in Nigeria my country made a statements that I had to take cognizance of, he said some of the people you employ in your establishment want to be like you, so in most cases they steal your money, they make fraudulent activities within your establishment just to make money for themselves and look wealthy and rich as you are, this he knew after thorough investigation he took ranging from the fact the activities in this establishment where not going smooth the way he was expecting. So as a business owner, the most important thing you should do is to employ a department that will take inventory of activities that are going on everyday on your establishment, as a matter of fact, you should even be the head of that department.

Base on my little experience, all these are facts of what happened in many establishment, the question is can the CEO spare head all department or sector in some establishment, for me the answer is no because their must be some loop hole especially when their is a team work or collaboration is conducting such act, for instance I have seen a hotel where department of finance or cashier even join security,and management staff to collect money without recording even as we are now operating on digital economy, some workers still manover camera when they wants to commit some crime against establishment. In my opinion even when such agent of inventory is deployed by CEO such should be spare head with person of trust to the CEO including others department because most of those agent too are out for money even with agreement still cut corners to make more, nevertheless no amount of money coming into establishment can been hundred percent achieved by the CEO without a fraction slipping out  due to workers attitude or character towards the money.

[Faisal2202]

If you really have bad intention to your job, no matter how long you are trying to hide it, the time will definitely come that you'll put everything in action. And that's the time when everything is perfect, having gained all the genuine trust an employer can offer.

That is why building trust is definitely the biggest challenge. But you have no choice but to give your trust to whom you think a trusted one, in order your business will operate continuously without you personally on the site. Trust but with caution.

That's the moral of the story and the question of the OP that no matter what we have to trust someone, and no matter what at some point even after a lot of trust that person is going to scam you and steal from you and that's the main problem here and the discussion is on how we can be trusting them with caution and what are those precautions?

Anyway, I once heard some filmmaker saying if your agent is arranging things for you in such a small amount (subjective thing) and you know he is stealing from you but you still admire the skill that he is making sure you get your results in that amount which we think is small and still able to steal then I have no problem with him stealing from me haha.

Even I heard some businesses going bankrupt because their most clever people had to leave job because you fired them while you caught them stealing and after that the sales starts to decrease and you realize I was still in profit when that person was stealing from me, (in a funny way) there are a lot of videos has been made on this that owners like to get results, they don't care about what their employee are stealing from them, until they are getting the results.

[Cheema02]

Base on my little experience, all these are facts of what happened in many establishment, the question is can the CEO spare head all department or sector in some establishment, for me the answer is no because their must be some loop hole especially when their is a team work or collaboration is conducting such act, for instance I have seen a hotel where department of finance or cashier even join security,and management staff to collect money without recording even as we are now operating on digital economy, some workers still manover camera when they wants to commit some crime against establishment. In my opinion even when such agent of inventory is deployed by CEO such should be spare head with person of trust to the CEO including others department because most of those agent too are out for money even with agreement still cut corners to make more, nevertheless no amount of money coming into establishment can been hundred percent achieved by the CEO without a fraction slipping out  due to workers attitude or character towards the money.

You raises a very realistic challenge that faced by many organization. In large establishments it is very difficult for CEO to manage every department personally. As we know technology is uses in every practical field but in today's digital economy we still faces unrecorded transactions and many other unethical practices. So this shows that technology also makes faults and this shows trust is important but if we blindly trusted on anyone than its creat problems. Thats why regular audits are necessary for a large organization and if multiple trusted individuals work together than its can reduce the chances of corruption. And it is true that human can attracted towards money and learning point is that if we want to minimize losses than we should follow ethical culture.

[ancafe]

Good advice, if indeed we ourselves can still handle it and only need the help of other personnel then recruiting other people is the right choice but there is no other intention so just hire them as employees. Because that's how we hire them and pay them, guide them and monitor them.

But over time maybe there will be trust in the person we give the job from there we can assess how the person is performing and their behavior. Yes, even if we are sure that giving trust is natural.

Control is essential for a business to run smoothly and it's also based on measurable management so we know where errors are that need to be addressed quickly and don't negatively impact the process. Hiring employees must also be selective, especially when dealing with people who will later manage finances. Often, business failures are not only due to a lack of buyers, but also due to incompetence of the person handling financial matters.

That's why business requires experience so we know how to manage well and we can recognize problems before they arise. If the owner does not have experience, it will be difficult for him to identify problems or not know how to solve problems that arise when the business does not run according to our program.

[Bitcoin.com97]

You can’t trust employees so much because they are really not good , but not all sha , few can help grow your business, while many will be being down your business , just as you said you won’t notice until it start showing.

But I notice now a days once a business owner employed a sales reps they leave the whole business for them and barely come to the shop or relate with customers again ,they won’t be dedicated to the business again that is what is giving them the right to steal and enrich themselves through someone else’s sweat , despite having a sales rep always find time to monitor your business , pay attention to every details and trust me they won’t dealt with you so much .

[Fredomago]

Good advice, if indeed we ourselves can still handle it and only need the help of other personnel then recruiting other people is the right choice but there is no other intention so just hire them as employees. Because that's how we hire them and pay them, guide them and monitor them.

But over time maybe there will be trust in the person we give the job from there we can assess how the person is performing and their behavior. Yes, even if we are sure that giving trust is natural.

Control is essential for a business to run smoothly and it's also based on measurable management so we know where errors are that need to be addressed quickly and don't negatively impact the process. Hiring employees must also be selective, especially when dealing with people who will later manage finances. Often, business failures are not only due to a lack of buyers, but also due to incompetence of the person handling financial matters.

That's why business requires experience so we know how to manage well and we can recognize problems before they arise. If the owner does not have experience, it will be difficult for him to identify problems or not know how to solve problems that arise when the business does not run according to our program.

It's tough when you are starting and trying to established your business especially those people who will going to assist you duing those tough days, but when you manage to push forward and able to get the responsible support from people you hire, things will go smoothly and the reach will be more wider and there's a possibility that you need to branch out to extend the reach of your business, it's you who will dictate the direction of your fate that's why it's needed to be present and closely monitor everything and keep on improving your knowledge for the betterment and potential, to maximize your profits.

[Jateng]

Money changes people, no matter how loyal or trustworthy they seem at first. Once money is involved you should not be too relaxed, especially with your own business. Being careful does not mean you are wicked or suspicious, it just means you understand how things work in the business world.

Greed has a way of coming in slowly,  before you know it, people will start putting their own interest above the business.

Before starting a business the person is completely different but as soon as the decision of business money comes into his hands his personality changes. tries to not benefit people associated with his business benefit. Therefore money creates a sense of greedy in a person and it gradually develops. This happens mostly in employees because in the beginning they do not know their own benefit so they seem honest but as the money goes to them they take their own benefit from the owners business which is why the owner should be careful about his work